Lotte Construction Wins 'Sinyongsan Station North Side Zone 1' Redevelopment Project Contract

Construction of up to 38 Floors and 324 Households,
Project Cost of 352.2 Billion KRW

Lotte Construction secured the 'Sinyongsan Station North Side Zone 1 Redevelopment' project, marking its first successful maintenance project contract of the new year.

Perspective view of the specialized design for Zone 1 north of Sinyongsan Station. Provided by Lotte Construction

On the 13th, Lotte Construction announced that it was selected as the contractor at the general meeting for the selection of the construction company for the Sinyongsan Station North Side Zone 1 urban maintenance-type redevelopment held on the 11th.

Sinyongsan Station North Side Zone 1 is a project located at 2-116, Hangangno 2-ga, Yongsan-gu, Seoul, with a total floor area of 115,622.5㎡, consisting of three buildings with 7 basement floors to 38 above-ground floors, 324 households, and auxiliary welfare facilities. The construction cost is approximately 352.2 billion KRW.

The project site is within walking distance of Samgakji Station, a transfer station for subway lines 4 and 6, Sinyongsan Station on line 4, and Yongsan Station, which serves lines 1, Gyeongui-Jungang Line, and KTX. It is conveniently accessible to downtown Seoul and outskirts via nearby Hangang Bridge, Gangbyeonbuk-ro, and Olympic-daero.

Educational facilities include Yongsan Elementary School and Namjeong Elementary School, and the area is equipped with living infrastructure such as community centers, post offices, I'Park Mall, and supermarkets. With the planned development of Minjok Park, Namsan views, and Yongsan International Business District, an increase in future residential value is also expected.

Lotte Construction has built Yongsan City Park, Yongsan Lotte Castle Center Foret, and the high-end residential complex Nine One Hannam in Yongsan-gu, and has secured high-end remodeling projects such as Ichon Le El and the redevelopment of the landmark Yongsan Sanho Apartment along the Han River. Together with the newly secured Sinyongsan Station North Side Zone 1, it will create premium residential complexes throughout Yongsan-gu.

A Lotte Construction official said, "Lotte Construction participated in multiple bids with the determination to complete the project until the end," adding, "To complete ‘Sinyongsan Le El’ as a landmark representing Hangang-daero, we will spare no effort in applying Lotte Construction’s technology and expertise."

Last year, Lotte Construction achieved orders worth 1.9571 trillion KRW in urban maintenance projects, ranking sixth in the construction industry.